QUALCOMM (NASDAQ:QCOM) Shares Up 0.2% – Here’s Why

QUALCOMM Incorporated (NASDAQ:QCOM) shot up 0.2% during mid-day trading on Wednesday . The company traded as high as $157.06 and last traded at $156.58. 712,267 shares were traded during mid-day trading, a decline of 91% from the average session volume of 8,204,845 shares. The stock had previously closed at $156.29.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Price Performance

The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market cap of $172.18 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business has a 50-day moving average of $164.52 and a two-hundred day moving average of $164.10.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.18%. QUALCOMM’s dividend payout ratio is 36.32%.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by company insiders.

Institutional Trading of QUALCOMM

A number of institutional investors and hedge funds have recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth $26,000. Banque Transatlantique SA purchased a new stake in QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group bought a new stake in QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter valued at $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.